International education becomes crucial Australian export earner

Australia_DayRevenue from international students in Australian educational institutions has now become the nation’s third largest ‘export’ earner, overtaking natural gas and only behind coal and iron ore.

Figures from the Australian Bureau of Statistics showed that revenue from overseas students grew by more than $2 billion in 2015, making international education Australia’s third largest export, contributing $19.65bn to the economy.

PIE News, the journal of Professionals in International Education, reports that the 11.5 per cent growth in spending by international students, which includes tuition fees, accommodation and living expenses, was spurred on by a 13 per cent rise in education-related travel in 2015 compared to the previous year.

Richard Colbeck, Australia’s Minister for Tourism and International Education, said, “These latest figures confirm the growing importance of international education in the context of Australia’s 21st century knowledge economy.

“International education makes an exceptional contribution to Australian society, culture, international standing, and economic prosperity and it provides opportunities for people to experience different countries, languages and cultures.”

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